Go ahead and take that risk

One thing we can learn from blogger Bob Lefsetz is to seize the moment.

A wannabe music journalist turned industry lawyer in the 1970s, he wormed his way into his original ambition by starting a trade publication, the Lefsetz Letter, offering tips and opinions on music trends.

By the late 1980s, the newsletter was popular enough to provide Lefsetz a living. Then, in 2000, he put it online for free, just in time for the war over music file-sharing.

Lefsetz spent a few years castigating record labels for trying to shut down Napster. He said that sharing music was not only inevitable but necessary. Back then that stance was revolutionary.

“I got a certain amount of heat,” he says of the labels. “But the tide was turning, and people needed someone to explain the new world to them.”

Lefsetz became that guy, earning himself a reputation as a trend-spotter.

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